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does, which is track the economy, because corporate profits are so linked to the economy. interest rates are spiking. you've seen that in mortgages. for people at home if you have a mortgage and you're looking at buying a home or able to do the refinancing, you want to seize the moment before interest rates start to move sharply higher. >> andy, what do you make of the fact that interest rates are up and the place of gold has plummeted? >> you have to look at yesterday as a turning point and we've been waiting for this for years. the fed has been injecting $2.5 trillion cumulatively into the market since 2008. five years. we kept waiting. at some point they're going to turn and say go on your own, we'll take the training wheels off and you guys can do it on your own. gold, people were speculating that this was a safe harbor. now that the u.s. economy perhaps is doing better, selling off gold, the dollar is rising, there's all sorts of turmoil on the markets right now. of course the stock market and interest rates are the two big ones for people watching at home. >> lastly,
does, which is track the economy, because corporate profits are so linked to the economy. interest rates are spiking. you've seen that in mortgages. for people at home if you have a mortgage and you're looking at buying a home or able to do the refinancing, you want to seize the moment before interest rates start to move sharply higher. >> andy, what do you make of the fact that interest rates are up and the place of gold has plummeted? >> you have to look at yesterday as a turning...
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when the economy's bad it increases, when the economy's good, it goes down. the reason we don't have mass starvation is this program is helping tens of millions of american families survive. the facts are, before the 1970s, when we did have the program, we had third world style malnutrition. these programs almost entirely ended hunger in the 1970s. >> that used to be a bipartisan understanding. bob doll is one of the founding fathers of this program. and it used to be a way to help farmers and families. there's a business case for continuing these programs. the biggest recipients of the money. it's all cycled back into the economy. >> no one's saving -- companies like kraft that make the boxed food that's inexpensive to buy, companies like walmart, supermarkets, all plow in the money from these food stamp programs. we also had this interconnectedness of our safety net programs that's going to make this a double problem. feeding america that operates lots of food banks around the country sent out an alert saying, you have kids who get free and reduced lunch be
when the economy's bad it increases, when the economy's good, it goes down. the reason we don't have mass starvation is this program is helping tens of millions of american families survive. the facts are, before the 1970s, when we did have the program, we had third world style malnutrition. these programs almost entirely ended hunger in the 1970s. >> that used to be a bipartisan understanding. bob doll is one of the founding fathers of this program. and it used to be a way to help...
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we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say what's wrong with these crazy people on wall street? americans say -- 44% of americans say they're worse off than they were a year ago. >> i think what it means for people who have a house who might want to refinance it, they should probably do it, because interest rates will go higher if the fed stops doing all this drug giving to the economy. so if you're going to refinance, do it now. if you're looking at a new home purchase, do it sooner than later. but in terms of stocks, hold on to them. wait this out. it's going to be crazy while the market tries to figure out when the fed will take t
we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say...
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fear that all of the easy money ben bernanke has been plowing into the economy to prop it up to prevent a depression is going to start drying up. the chief market strategist at knight capital group. peter, i guess the big question is, two days, nearly 4%. you know, that makes people afraid. and it should make people afraid. the question is, is this temporary or something that could get worse and worse? >> it's a real wake-up call. i do think this is a short-term trend. given that, we are in a period of volatility. since chairman bernanke did mention tapering back in may, which is where we had our highs -- >> meaning i'm going to eventually stop giving you this free money. >> we've seen a the lot of volatility in the market, more than we've seen all year. and sideways to lowered the last two days, significantly lower, this probably more work to do on the down side in the near term, but this is actually something that's needed. a pullback is needed. we need to get back to more compelling valuations in the indexes and stocks generally speaking. so it's not as if this is completely destruct
fear that all of the easy money ben bernanke has been plowing into the economy to prop it up to prevent a depression is going to start drying up. the chief market strategist at knight capital group. peter, i guess the big question is, two days, nearly 4%. you know, that makes people afraid. and it should make people afraid. the question is, is this temporary or something that could get worse and worse? >> it's a real wake-up call. i do think this is a short-term trend. given that, we are...
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last year brazil became the sixth largest economy in the world. but income and equality is a huge issue. about one in five people live below the poverty line. demonstrators are protesting in part against billions of dollars being funneled not into education or health care or other basic needs for the population, but into big spectacular events. into stadiums and if a sill advertise being built for brazil to host the world cup and the summer olympics. the cost to host the world cup is estimated to top $13 billion. the protests today around the stadium, this is brazil today a supposed day off from the protests. these have been incredibly dramatic. incredibly big protests. the main organizers say tomorrow is not the day off it will be the day to watch for when everybody should be expected to hit the streets. it's going to be a big news story tomorrow. watch it here. [ male announcer ] this is kevin. to prove to you that aleve is the better choice for him, he's agreed to give it up. that's today? [ male announcer ] we'll be with him all day as he goes
last year brazil became the sixth largest economy in the world. but income and equality is a huge issue. about one in five people live below the poverty line. demonstrators are protesting in part against billions of dollars being funneled not into education or health care or other basic needs for the population, but into big spectacular events. into stadiums and if a sill advertise being built for brazil to host the world cup and the summer olympics. the cost to host the world cup is estimated...
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. radio: it's mattress discounters' radio: it's mattress discounters' 4th of july sale. bulldog: that cloud reminds me... radio: the tempur-pedic cloud collection... dog: that's it! radio: ...now with 48 months interest-free financing. basset hound: free financing? radio: the 4th of july sale is on now... bulldog: hey... where's everyone going? ♪ mattress discounters >>> in qatar, five people were found guilty today of death by negligence. this is a tragic fire that happened that killed 19 people including 13 toddlers. the fire happened in may of last year at a day care center in a mall in doha. >> it was all smoke in mirrors when it came down to safety. one of those convicted and sentenced to prison is a member of qatar's royal family actually. more on the story from
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. radio: it's mattress discounters' radio: it's mattress discounters' 4th of july sale. bulldog: that cloud reminds me... radio: the tempur-pedic cloud collection... dog: that's it! radio: ...now with 48...
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Jun 20, 2013
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we want the economy to get better. the problem is, is that the quantitative easing has at some point got to go away. >> what they call the stimulus. kr yeah. winding down on that. >>> two big stories. of course, you see the dow which has to deal with your wallet. then the story people have been following here for a year now. just a little bit more information before we go to break here. as i said, jury has been selected in the george zimmerman trial. just to tell you about this jury, it's a six-person jury to hear the case of george zimmerman. it's been chosen. it consists of six women, we are told. there are no men. no men on this jury. four of them are white, one is black. the race of the only woman -- the race of the one lady is unknown. we're not exactly sure what it is. again, four white, one black. i'm not exactly sure of one. four alternates being chosen right now. more on this developing story when we come right back. i don'without goingcisions to angie's list first. with angie's list, i know who to call, and i
we want the economy to get better. the problem is, is that the quantitative easing has at some point got to go away. >> what they call the stimulus. kr yeah. winding down on that. >>> two big stories. of course, you see the dow which has to deal with your wallet. then the story people have been following here for a year now. just a little bit more information before we go to break here. as i said, jury has been selected in the george zimmerman trial. just to tell you about this...
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Jun 20, 2013
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the economy has been just full every month. $85 billion a month the fed has been pumping into the economy. the fed chief yesterday said, you know, eventually things will be good enough in the job market, et cetera, they'll be able to pull that back, and just that consideration have really spooked global markets. i want to give you a snapshot of how everything around the world is moving. you can see gold prices tumbling here today at a two and a half year low, down to 5%. oil prices are falling below $96 a barrel. the ten-year yield, interest rates are rising right now, and the overseas markets, down 1 to 3%. all but about 100 stocks are lower in the u.s. it has been a widespread reaction basically until the markets get used to the fact that the fed won't be in there forever. there are also jobless claims showing a little higher, showing not as much strength in the jobs market as you would like. that spooked people a little bit. nervous investors. also, this, carol, is the end of the quarter. it's coming up here on the end of the first half of the year, so you've got fund managers saying,
the economy has been just full every month. $85 billion a month the fed has been pumping into the economy. the fed chief yesterday said, you know, eventually things will be good enough in the job market, et cetera, they'll be able to pull that back, and just that consideration have really spooked global markets. i want to give you a snapshot of how everything around the world is moving. you can see gold prices tumbling here today at a two and a half year low, down to 5%. oil prices are falling...
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economy. it's like when the fed used to have an interest rate where they could go one percent and cut another half percent. this is a move like one percent to half percent cuts. the calibration of policy that is making it difficult for people to understand, i think it's like watching the sausage being made. too much information and too much uncertain stay. that said, this is a fed that's also given us an insurance policy. if the economy were to falter, they would increase again if they had to their purchases of large scale as purchase of treasury bonds and mortgage backed securities. >> diane, what do you make of these trends, gold prices going down and interest rates rising. what do you make of that? >> i think they go in contrast to what people would think. we do have inflation decelerating. the gold buy had been one where people were trying to protect themselves somehow by buying gold like my grandmother did when she sewed it into her clothes coming to ellis island. this is an idea that inf
economy. it's like when the fed used to have an interest rate where they could go one percent and cut another half percent. this is a move like one percent to half percent cuts. the calibration of policy that is making it difficult for people to understand, i think it's like watching the sausage being made. too much information and too much uncertain stay. that said, this is a fed that's also given us an insurance policy. if the economy were to falter, they would increase again if they had to...
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because they have a much more optimistic view of the economy. here's a chart to give you a flavor for what the economists are looking at, which is projected monthly job growth. now, we know the economy is still not doing everything we want, but over the past year private economists have gone from predicting something like 140,000 jobs a month over the coming year and now predicting something like 187,000 jobs a month. >> that would be great. it's still below where we want to be. but the new normal is 130 to 140. if the new normal changes to 180, maybe week get over that. the 200,000 mark is what economists say time and time again if you want to keep things going in the right direction. you have to create at least 200,000 jobs. >> it feels like that number keeps going up. it used to keep trading water but now it moved up to 200,000. >> this is not great. we'll have high unemployment for another six to seven years, but the point is the outlook is getting better with the fed making projections yesterday. so bernanke is talking about reducing the bo
because they have a much more optimistic view of the economy. here's a chart to give you a flavor for what the economists are looking at, which is projected monthly job growth. now, we know the economy is still not doing everything we want, but over the past year private economists have gone from predicting something like 140,000 jobs a month over the coming year and now predicting something like 187,000 jobs a month. >> that would be great. it's still below where we want to be. but the...
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. >> he said the economy is getting better, that means the fed will stop all the stimulus. not right now but eventually. dow futures down 80 points, big sell-off yesterday, the dow, nasdaq, s&p all swooning by more than 1%. the dow was down 206 points. fed reserve chairman ben bernanke said the fed was prepared to "taper" its purchases of bonds as the economy improves. he signaled the stimulus program could end by next year, that could raise your borrowing costs, you would feel it. >>> a stunning turnaround for general motors for the first time j.d. power and associates says gm is the car company with the best quality. all four gm brands were ranked above the industry average. gm filed for bankruptcy back in 2009 so this is a milestone for general motors. >>> a faster version of wifi is on the way t will allow to you transfer, imagine this, a high definition movie to a tablet in less than four minutes. the samsung galaxy s4 and routers from cisco will be among the first to use this new high speed wifi. apple says its future products will use the faster network, full movie,
. >> he said the economy is getting better, that means the fed will stop all the stimulus. not right now but eventually. dow futures down 80 points, big sell-off yesterday, the dow, nasdaq, s&p all swooning by more than 1%. the dow was down 206 points. fed reserve chairman ben bernanke said the fed was prepared to "taper" its purchases of bonds as the economy improves. he signaled the stimulus program could end by next year, that could raise your borrowing costs, you would...
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the fed plans to slow down its rate of buying bonds to keep interest rates down, saying the economy is getting stronger are. well that could ultimately send rates up on mortgages and cars and credit cards. >>> you might pay less this summer to cool your home. the energy information administration says milder weather predicted for this summer may save you some money on your electric bills, even if it's just a few dollars month, but we'll take it. >>> if you're planning a trip to yellowstone or grand teton national park, be forewarned, the parks have issued a health advisory warning advice gore an outbreak of norovirus in the park that has sicken and the least 200 people already, even before the big summer season starts. the advisory is telling visitors to wash their hands a lot. >>> paris launched a campaign for improving its reputation. some tourerists complained that waiters, taxi drivers and sales people there come off as rude at times. local tourism officials are giving out manuals to people who work in paris with guidelines for better etiquette. >>> new baby pictures to show you th
the fed plans to slow down its rate of buying bonds to keep interest rates down, saying the economy is getting stronger are. well that could ultimately send rates up on mortgages and cars and credit cards. >>> you might pay less this summer to cool your home. the energy information administration says milder weather predicted for this summer may save you some money on your electric bills, even if it's just a few dollars month, but we'll take it. >>> if you're planning a trip...